ZECUSDT Dynamic Resistance| 200 EMA| Swing High| Weekly S/R Evening Traders,
Today’s analysis – ZECUSDT – breaking above key dynamic resistance with a retest, a move to swing high is plausible.
Points to consider,
- Weekly S/R respected
- Dynamic Resistance (retest)
- 200 EMA support
- RSI respecting midpoint
- Swing high target
ZECUSDT has respected weekly S/R which allows us to have a bullish bias on the market.
The recent dynamic resistance retest is a confirmation of a true break. Follow through will be needed for continuation.
The 200 EMA is critical support to hold, price action must respect it for a sustained up trend.
RSI is trading above 50 midpoint, this is indicative of bull momentum present after a clean bullish divergence.
The immediate target for ZECUSDT is swing high, breaking this level will see macro trend continuation.
Overall, in my opinion, ZECUSDT is a valid long with defined risk. Price action is to be used upon discretion/ management of trade.
What are your thoughts?
Thank you for following my work!
And remember,
“Trading effectively is about assessing probabilities, not certainties.” ― Yvan Byeajee
